10.1184/R1/6707369.v1 Allan Meltzer Allan Meltzer Policies for an Uncertain World Carnegie Mellon University 2011 Business Management 2011-03-29 00:00:00 Journal contribution https://kilthub.cmu.edu/articles/journal_contribution/Policies_for_an_Uncertain_World/6707369 <p>From 1947 to 1964 the United States maintained a relatively stable monetary framework under which many countries recovered, developed, and prospered. Inflation remained low in the United States and in other nations that tied the values of their currencies-their exchange rates-to the dollar. The framework and the procedures were not ideal, but they produced greater stability than the monetary systems that preceded or followed.</p>